December 17, 2025–Written by Will Ploch, Assistant Editor-in-Chief for Industrial Info Resources (Sugar Land, Texas)–The global Petroleum Refining Industry has seen a steady decline in capacity additions and fuel demand in the past few years. But Hillary Stevenson, Vice President for Energy Intelligence for Industrial Info, told attendees at a recent industry-oriented presentation that demand remains strong in many areas, particularly the Eastern Hemisphere.
Industrial Info is tracking more than $383.7 billion worth of active and proposed capital-spending projects at refineries globally, as well as more than $21.6 billion worth of maintenance-related projects. Stevenson noted that the global refining capacity growth is slowing from the 2022-24 pace, when refining capacity rose about 1 million barrels per day (BBL/d) each year, to a projected 620,000 BBL/d growth rate on average for 2025 through 2027.
